Atlanta Asset Protection Attorneys
Accessible & Knowledgeable Legal Team
Our Atlanta estate planning lawyer at Meyring Law Firm offers advanced asset protection strategies. We can help you avoid over-taxation or losses from lawsuits with a customized estate plan. Your estate plan works to pass your wealth on to your heirs, while asset protection does more. These strategies allow you to protect more of your assets during your lifetime.
How Does Asset Protection Work?
Asset protection works to insulate your assets from devastating lawsuits that could lead to substantial losses. You may think that asset protection strategies are only for the wealthy, but if you own a home, asset protection should be part of your estate plan. Understanding how asset protection works involves an examination of various tools and mechanisms employed to safeguard you.
One common method of asset protection is the establishment of trusts. Trusts allow individuals to transfer ownership of their assets to a separate legal entity, typically managed by a trustee. By doing so, individuals effectively remove those assets from their personal ownership, making them less susceptible to claims from creditors or legal judgments. Our asset protection lawyers in Atlanta are dedicated to creating the right asset protection plan for you.
Types of Asset Protection Strategies
Asset protection allows you to control your assets, while not legally owning them.
This is accomplished by establishing:
- Limited Partnerships: A family limited partnership can be established to shelter wealth while allowing you to retain control over the assets.
- Limited Liability Companies: An LLC is a business entity, entirely separate from the owners. Your personal assets are protected should an LLC be a defendant in a lawsuit.
- Domestic Asset Protection Trusts: This is an irrevocable trust established for your benefit that can protect your assets from creditors while allowing you to retain access to the assets.
- Third-Party Discretionary Trusts: These are called “spendthrift” trusts and allow a relative to create a trust fund with certain restrictions, which can provide a measure of financial protection if you are concerned the money you pass to a loved one may be spent recklessly.
Why Choose Meyring Law Firm in Atlanta?
At Meyring Law Firm, our approach is different. We have a strong reputation among our peers in the legal community and with our clients. We take our duty to the people we serve seriously and work closely with them in estate planning and asset protection, which go hand in hand.
Take control of your financial well-being and minimize the impact of unforeseen events by implementing effective asset protection measures. Consult with our knowledgeable Atlanta asset protection attorneys to develop a personalized asset protection plan tailored to your unique circumstances. Start protecting your assets today for a more secure tomorrow.
"I contracted Robert for service and was extremely pleased with the entire experience."Eleanor W.
"I enjoyed the small firm atmosphere, courteousness, and competent staff members. I can honestly say that there was no pressure and Mr. Meyring took the time to answer all of my questions."Former Client
"I am grateful to Mr. Meyring for his support"Stephanie
"We are comforted by knowing that should anything happen to my mother, her wishes will be followed. We are VERY grateful to Mr. Meyring and to Catie for all their efforts."Rebecca H.
"I was very impressed with the services that I received at the Meyring Law Firm."Steve R.
Robert S. Meyring AttorneyRobert S. Meyring is the managing attorney of Meyring Law Firm (established 2007). Before law school, he worked as an FDA investigator, was a Peace Corps volunteer high school science teacher in Tonga, South Pacific, and was the owner/operator of a residential landscape firm.View Profile
Helping with Estate Planning & Probate
In Atlanta, Georgia
Our legal team proudly serves clients all across the greater Atlanta area!
- Sandy Springs
An individual can write his own will in Georgia but must follow certain statutory rules laid out in order to ensure the will is deemed valid by a probate court.
People hire a probate attorney because the benefits of having an attorney outweigh the costs of time and effort. Mainly people hire a probate attorney to save time and energy, reduce their worries, and navigate the probate process with a professional. So no, you do not need a lawyer to probate a will, if it is worth the time and effort to do it yourself.
Executor is the person named in the last will and testament that's appointed by the probate court to administer the estate of the decedent according to the will.
In Georgia, there is a legal mandate for the holder of a will to submit it to the court for probate per O.C.G.A. § 53-5-5. If a will is not filed with the court, any heir or beneficiary can petition the court to direct the will holder to file the will with the proper court. Wills are meant to be public documents once the grantor has passed away. Sometimes if a will is not filed with the court, beneficiaries and heirs cannot take legal possession of assets specified in the Last Will and Testament.